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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Bharti Airtel Ltd    532454   INE397D01024

BHARTI AIRTEL LTD

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India Government Defers Spectrum Payments Owed by Telecom Companies

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11/20/2019 | 09:42pm EST

By P.R.Venkat

India's government has decided to defer spectrum payments that telecommunication companies need to pay, a move that is likely to benefit companies like Bharti Airtel and Vodafone Idea.

The cabinet approved a proposal to defer the spectrum payments for two years to mitigate the financial stress faced by the telecom services sector, according to a statement posted on the government's website late Wednesday.

Last month, India's top court ruled that telecom companies operating in the country need to pay 920 billion Indian rupees ($12.81 billion) to the government in a dispute over licensing fees.

Telecom companies including Bharti Airtel and Vodafone Idea had said the court's decision could severely hurt their finances and sought relief from the government.

Earlier this month, Bharti Airtel posted a INR230.45 billion net loss for the July-September quarter as it made provisions for the payments. Similarly, Vodafone Idea posted a net loss of INR509.21 billion for the quarter ended September, marking its worst quarterly loss ever.

"Deferment of spectrum auction installments will ease the cash outflow of the stressed telecom service providers and facilitate payment of statutory liabilities and interest on bank loans," according to the statement.

Write to P.R. Venkat at venkat.pr@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC -1.92% 71.5 Delayed Quote.-10.57%
BHARTI AIRTEL LTD 0.59% 514.35 End-of-day quote.13.29%
VODAFONE IDEA LIMITED 5.36% 5.9 End-of-day quote.-3.25%
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Financials (INR)
Sales 2020 863 B
EBIT 2020 82 163 M
Net income 2020 -257 969 M
Debt 2020 1 055 B
Yield 2020 0,52%
P/E ratio 2020 -9,16x
P/E ratio 2021 202x
EV / Sales2020 4,53x
EV / Sales2021 4,03x
Capitalization 2 856 B
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 527,84  INR
Last Close Price 523,60  INR
Spread / Highest target 14,6%
Spread / Average Target 0,81%
Spread / Lowest Target -29,9%
EPS Revisions
Managers
NameTitle
Gopal Vittal CEO, Managing Director & Executive Director
Sunil Bharti Mittal Chairman
Ajai Puri Chief Operating Officer-India & South Asia Region
Nakul Sehgal Chief Financial Officer
Harmeen Mehta Global Chief Information Officer
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